Do your research before you write an offer.
So you've found the perfect home.
It's just what you've been looking for. Be aware, you may be
thinking with your heart and not your head. Do some research
before you write an offer. Be certain you don’t make a mistake
you will later regret.
Here are tips to help you research a
homes value.
Have your agent do a market analysis: Most real estate agents will perform a market
analysis for sellers. This is not an appraisal, but the agents
best estimate of a homes' value. Have your agent perform a market
analysis for you as a buyer. Pay close attention to comparable
sales in the neighborhood. This is what an appraiser will use if
you purchase the property.
The Internet: There
are several web sites that let you research home values.
Case
Shiller Weiss Inc: Offers a system used by banks across the
country. For $25 they will give you an objective estimate of a
home's value.
Home
Value Check: For $14.95 you can get a valuation of a property
that includes: the current market value of the property, 30
comparable sales, property tax information and more.
Yahoo:
Yahoo offers a free service that allows you to research property
values two ways:
- You can search by location and
find all homes that sold on a particular street or find the
sales history of a particular address.
That is, find out what the
seller paid for the home.
- You can search by price range
for all homes in a particular city.
TIP: Be a smart
buyer and know a homes' value before you make an offer. If a home
is overpriced, let someone else pay too much.
|